v3.24.1.u1
Segment Information (Tables)
 3 Months Ended
Mar. 31, 2024
Segment Reporting [Abstract]  
Summary of Segment Information
The following table presents a summary of our reportable segment financial information:

Three Months Ended March 31,
(in thousands)20242023
Net sales:
Automotive$3,574,020 $3,505,827 
Industrial2,209,611 2,259,291 
Total net sales$5,783,631 $5,765,118 
Segment profit:
Automotive$272,936 $264,420 
Industrial270,839 261,987 
Total segment profit543,775 526,407 
Interest expense, net(17,690)(16,864)
Intangible asset amortization(34,100)(39,122)
Corporate expense(83,762)(66,015)
Other unallocated costs (1)(83,042)— 
Income before income taxes$325,181 $404,406 

(1)     The following table presents a summary of the other unallocated costs:

Three Months Ended March 31,
(in thousands)20242023
Other unallocated costs:
Restructuring and other costs (2)$(83,042)$— 
Total other unallocated costs$(83,042)$— 

(2)    Please refer to the Restructuring Footnote in the Notes to Condensed Consolidated Financial Statements for more information.
Summary of Revenue from External Customers by Geographic Areas The following table presents disaggregated geographical net sales from contracts with customers by reportable segment:
Three Months Ended March 31,
(in thousands)20242023
North America:
Automotive$2,196,890 $2,205,385 
Industrial2,080,126 2,130,715 
Total North America $4,277,016 $4,336,100 
Australasia:
Automotive$400,348 $406,762 
Industrial129,485 128,576 
Total Australasia$529,833 $535,338 
Europe – Automotive$976,782 $893,680 
Total net sales$5,783,631 $5,765,118